Hard Money Loans Fair

3400 S Figueroa Street,Los Angeles CA 90089

15 February, 2022

Description

Hard Money Loans For Real Estate Fix and Flip HARD MONEY LOANS What's hard money? Hard money is a loan secured by an asset. It is also known as Asset Based Lending. The credit rating of the individual seeking the loan is not as important as the real estate being used as collateral to secure the loan. In a hard money loan scenario, the loan seeker offers their real estate as collateral in order to obtain financing for their fix and flip, rehab, or multifamily real estate purchase. The Loan to Value ratio is usually 60 to 70 percent of the value of the property being used to secure the loan. The Equity stake or Down Payment of the borrower, their exit strategy, and their cash reserves also influence a lender's decision. Commercial hard money is used for business purposes by investors to purchase multi-family units, income property, storage facilities, warehouses, and other revenue generating real estate. Hard money in contrast to traditional forms of lending, has a fast closing period saving the borrower time and money. Hard Money has a fast turnaround and provides the loan seeker with an answer in under 24 hours and if accepted, is able to provide finance in less than one week, saving the loan seeker time and money. Hard Money or Asset Based Lending programs also feature fixed rate interest only offerings that start at 7.99 percent. Hard money loans do not require great credit, are short term, and are used in many instances as to complete fix and flip projects, purchase multifamily units, and/or rehab a property. The fast closing period of Hard Money financing can potentially save the borrower millions of dollars in the long-term giving them a distinctive advantage over their competitors. Hard money has fewer requirements which means higher rates of approval for borrowers. For more information email [email protected] #HardMoney #Loans #RealEstate #Property #FixFlip #Rehab #Money hard money, hard money loans, hard money real estate, property, real estate, hard money fast, hard money easy, fix and flip, rehab, multifamily, real estate hard money loans, hard money realty loans